Pick of the Week - 07/04/2017

The Moneyfacts Pick of the Week showcases the best of the latest
products or rate changes to hit the consumer finance market.
Brief product details together with independent Moneyfacts analysis can be used with confidence in your finance
sections. You can select one or two products to sit beside a relevant story or use them all as a general feature.

Nationwide Building Society

Nationwide Building Society has increased its five-year fixed rate ISA, which now pays 1.65% upon its anniversary or 1.64% monthly. Savers can invest from as little as £1. Additions are not permitted, but early access to funds is allowed subject to closure of the account and a 365 days’ loss of interest penalty. Transfers in from cash and stocks & shares ISAs are permitted. This deal is for savers aged 16 and over and can be operated in branch and online.

Savers looking to invest their tax allowance early could find this latest launch from Nationwide Building Society just what they are looking for. Paying 1.65%, this deal is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys. Savers should however note that whilst early access to funds is allowed, a large penalty is payable, so they should ensure they have enough funds left over for life's little emergencies.

Family Building Society

Family Building Society has launched a new 18-month fixed rate bond, which pays 1.52% yearly or 1.51% monthly. Savers must invest from £10,000 up to a maximum of £150,000. Additions and early access to funds are not permitted. This deal can be operated in branch, by post, by phone and online.

Paying 1.52%, this 18-month fixed rate deal from Family Building Society is highly competitive and therefore earns a place in the Moneyfacts.co.uk Best Buys. This is a great option for anyone looking for a short-term home for their savings. However, with no early access to funds, savers must be happy to part with their deposit for the entire term.

Skipton Building Society

Skipton Building Society has launched a new two-year fixed rate mortgage, which is priced at 1.98% to 30.6.19. This deal is for first and second-time buyers who wish to borrow at 80% loan-to-value. No fee is payable and an incentive package offering a free valuation is available. This deal comes with the flexibility to make overpayments of up to 10% of the outstanding balance and take payment holidays.

Borrowers with the required 20% deposit will be delighted by this latest launch from Skipton Building Society. Priced at 1.98%, this deal sits comfortably in the market. The addition of no fee being payable and free valuation is likely to make this an attractive option for many.Skipton Building Society's lending area includes Scotland.

Chelsea Building Society

Chelsea Building Society has reduced the rate on its five-year fixed mortgage, which is now priced at 1.79% to 30.4.22. This deal is for first and second-time buyers who wish to borrow between £25,001 and £5 million. A fee of £1,695 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation and a £250 cash rebate is available. This deal comes with the flexibility to make overpayments of up to 10%, make underpayments and take payment holidays.

The five-year fixed rate of 1.79% from Chelsea Building Society is highly competitive and heads straight to the Moneyfacts Best Buys as a result. What's more, borrowers will also be able to enjoy a decent incentive package which includes a £250 cash rebate, making this a great choice for borrowers not only looking for a low rate but also to keep initial costs down. Chelsea Building Society's lending area includes Scotland.

Tesco Bank

Tesco Bank has relaunched its current account, which pays 3% credit interest on balances up to £3,000. To receive the 3% interest, customers must fund the account by £750 per month and set up at least three direct debits. For those who dip into their overdraft, an authorised overdraft rate of 18.9% EAR applies. Account holders will also be able to benefit from Tesco Clubcard points on debit card spending.

The return of Tesco Bank's interest-paying current account will make many struggling savers very happy. Offering 3% credit interest, this deal makes a welcome return to the Moneyfacts.co.uk Best Buys. Alongside a competitive rate of interest, this account has a good overdraft facility, making it a great all-rounder.

About Moneyfacts

Moneyfacts is the UK's leading independent provider of personal finance information. For two decades, Moneyfacts'
information has been the key driver behind many personal finance decisions.Moneyfacts.co.uk is a
completely independent comparison site that helps consumers make better financial decisions. Our constantly reviewed
Best Buys help people find the best savings rates and credit cards while our mortgage
calculator and loan calculator search the whole market to find the
best products.Moneyfacts also supplies Best Buy charts to many of the UK national and regional newspapers. Our
dedicated research experts produce five monthly publications as well as providing real-time news and data services to
the majority of banks and building societies. Additional information can be found at www.moneyfactsgroup.co.uk.

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